Thursday, March 21, 2019

Tag: Japan

The Coming War on China

When I first went to Hiroshima in 1967, the shadow on the steps was still there. It was an almost perfect impression of a human being at ease: legs splayed, back bent, one hand by her side as she sat waiting for a bank to open. At a quarter...

Abe looks to bolster U.S.-Japan alliance at next Trump meeting

NEW YORK – Prime Minister Shinzo Abe, who became the first foreign national leader to meet face to face with U.S. President-elect Donald Trump on Thursday, hopes to produce an agreement to strengthen the Japan-U.S. alliance when they meet next time, according to informed sources. To lay the groundwork for...

Did Shinzo Abe Get What He Came for in Meeting With Trump?

Japanese Prime Minister Shinzo Abe was the first foreign leader to meet with President-elect Donald Trump (and with his daughter Ivanka and son-in-law Jared Kushner). After the Nov. 8 U.S. election, Abe was quick to call Trump, who has for decades argued that America is losing to Japan on...

Bonds bloodied as Trump spending plans spur dollar

Routs in global bonds and emerging markets intensified, while the dollar climbed with base metals as investors positioned for the wave of fiscal stimulus that Donald Trump has pledged to unleash. The yield on 30-year Treasuries rose to the highest since January, with last week’s record debt selloff bleeding into...

James Rickards: The Petro Dollar Is Dead, Dollar Devaluation, Pensions Lost, World Currency

James Rickards is the Editor of Strategic Intelligence, a financial newsletter, and Director of The James Rickards Project, an inquiry into the complex dynamics of geopolitics + global capital. He is the author of The New Case for Gold (April 2016), and two New York Times best sellers, The...

Japanese companies in UK already receiving offers from EU

Haruki Hayashi, president of Japanese chambers of commerce in UK, said firms needed more than ‘general reassurances’. Japanese companies based in Britain have already started to receive offers from other European countries and could postpone investment decisions if Theresa May’s government fails to negotiate a close economic relationship with the...
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Why Everything You Hear About Aleppo Is Wrong

What's really going on in Aleppo? Are Assad and Putin exterminating the population for sport? Is it a war against US-backed "moderates"? That is what the mainstream media would have us believe. We speak with Vanessa Beeley, a journalist who just returned from Aleppo for the real story.

The Effects Of Money On Trade

There can be little doubt now outside of orthodox economics that the global economy is actually slowing, not accelerating as has been predicted. Economists themselves, however, continue to claim that things are getting better when the data strongly suggests otherwise. The latest depressing figures are from a pair of...

A Weaker Currency Is No Longer Economic Elixir It Once Was

A weaker currency, once the cure-all for ailing economies around the world, isn’t the panacea it once was. Just look at Japan, where the yen plunged 28 percent in the two years through 2014, yet net exports to America still fell by 10 percent. Or at the U.K., where the...

Treasury Market’s Biggest Buyers Are Selling as Never Before

They’ve long been one of the most reliable sources of demand for U.S. government debt. But these days, foreign central banks have become yet another worry for investors in the world’s most important bond market. Holders like China and Japan have culled their stakes in Treasuries for three consecutive quarters, the...

UN fears third leg of the global financial crisis – with prospect of epic...

The third leg of the world's intractable depression is yet to come. If trade economists at the United Nations are right, the next traumatic episode may entail the greatest debt jubilee in history. It may also prove to be the definitive crisis of globalized capitalism, the demise of the liberal...

Foreigners turn away from Treasuries just when needed most: Analyst

The biggest buyers of U.S. Treasuries have turned fickle on U.S. debt, just when they may be needed most. Peter Boockvar, chief market analyst at The Lindsey Group, points out that for a fourth month in a row, foreigners were net sellers of U.S. notes and bonds, dumping $13.1 billion...

The Weird New Normal of Negative Interest Rates

The United States, Germany, and other economic powerhouses haven't learned the dire lessons of Japan's lost decades. In 1998, when I was a reporter in Tokyo, an event happened that economists once thought impossible. Japan was at the height of its banking crisis, and as panic swelled, short-term market interest...

Bank of Japan’s New Unease With Negative Rates

Gov. Kuroda’s rhetoric takes an important turn as he recognize’s negative rates’ baleful effect on banks. The Bank of Japan's negative interest rate policy is adding a new ingredient: a dash of remorse. Two weeks before a much-anticipated monetary-policy meeting, BOJ Governor Haruhiko Kuroda acknowledged that subzero policy rates have had...

The Fed may be preparing for the unthinkable – negative interest rates in America

Negative interest rates are spreading like a virus. Central banks in the Eurozone, Switzerland, Sweden, and Japan all have below-zero policy rates. “NIRP,” as economists call a negative interest rate policy, is a desperation move—but the only move those central banks have. The Federal Reserve hasn’t followed—yet. When the next...

Yen Debate Is Stirred Up by Fed’s Hawkish Talk at Jackson Hole

Japanese currency has slid since gathering of Fed bankers last week, but major investors are still betting on yen to rise. Japanese policy makers eager to see the yen weaken may be thankful for the latest bout of hawkishness on U.S. interest rates from top Federal Reserve officials. For many market...

Fed knows policy doesn’t work anymore but it won’t admit it: Strategist

The policies of global central banks received another bashing Thursday with a London-based investment strategist launching a stinging analysis of the U.S. Federal Reserve. Minutes released late Wednesday from the Fed's latest policy meeting showed some voting Federal Reserve policymakers expected a further U.S. interest rate increase will be required...

In Surprising Twist, Global Central Banks Dump A Record $335 Billion In US Debt...

On Sunday, when looking at the latest update of the Fed's custody holdings of Treasuries, we noted something troubling: the number dropped sharply, declining by over $17 billion, bringing the total to $2.871 trillion, the lowest amount of Treasuries held by foreigners at the Fed since 2012. We added that...

US energy envoy: North Stream 2 could resurrect cold war divisions

The controversial North Stream 2 gas pipeline project has the potential to resurrect cold war divisions in Europe, US Energy Envoy Amos Hochstein said, before calling for greater competition with Russia’s Gazprom through increased LNG imports. Amos Hochstein is US Special Envoy for International Energy Affairs. He spoke to EurActiv...

Abe Plans Stimulus Package of More Than 28 Trillion Yen

Japanese Prime Minister Shinzo Abe announced plans Wednesday for more than 28 trillion yen ($265 billion) in economic stimulus in an effort to prop up the nation’s economy. The plan will include 13 trillion yen in “fiscal measures,” he said in excerpts of a speech broadcast by NHK public television....

How China’s Currency Manipulation Enhances the Global Role of the U.S. Dollar

But it's not quite that simple. In fact, Beijing benefits from the dollar’s dominance. On April 16, Zhou Xiaochuan, the governor of China’s central bank, the People’s Bank of China, once again set off alarm bells during a speech at the International Monetary Fund (IMF). “Starting from this April,” he...

Quantitative easing useful when all else fails, says Fed official Loretta Mester

A top official from the US Federal Reserve says quantitative easing has "proven useful", but the likely path of US monetary policy is still for interest rate rises. Talk of further unconventional monetary policies globally has increased as Japan reaches the limit of what negative interest rates and quantitative easing...

Japan may be on route for a soft form of helicopter money

Japanese policymakers, who won't go as far as funding government spending through direct debt monetization, might pursue a mix of aggressive fiscal and monetary expansion to battle deflation, say sources familiar with the matter. In the past week, Japanese markets have seen hyped-up speculation that the government will resort to...

Japanese Turning to Gold as Their Economy Spirals into Central Bank Oblivion

The Japanese economy is sliding into oblivion pulled along by central bank policy. In response, the Japanese people are buying gold. Economic growth has languished in Japan for nearly two decades despite extraordinary monetary policy including negative interest rates and round after round of stimulus. The government even flirted with...

The Role of Sanctions in U.S.-Russian Relations

Sanctions are a critical tool in persuading Russia to change its Ukraine policy. But the West’s overreliance on them risks undercutting their long-term effectiveness. Sanctions have been a central element of U.S. Russia policy following Moscow’s annexation of Crimea and the beginning of the undeclared war in eastern Ukraine. They...

The monetary bubble to end all bubbles is coming

Central banks continue to create new money through quantitative easing. But should they? That’s the question both Harvard economist Terry Burnham and economics correspondent Paul Solman explore in two separate pieces. Below, Terry Burnham warns against quantitative easing. You can read Paul’s take on the issue, “Why the Fed should...

The Fed Is Now More Likely to Cut Interest Rates Than Raise Them

Wall Street’s odds have reversed since the Brexit vote. Wall Street is betting Brexit will change the minds of the Janet Yellen and the Federal Reserve. Before Britain voted to leave the European Union last week, the majority of traders believed the Fed would raise interest rates at least once in...

Asia markets capitulate as UK votes to leave European Union

Asian stocks cratered, gold prices surged and the dollar briefly plunged below 100 against the yen on Friday as financial markets were rocked by results from the UK referendum on European Union (EU) membership that pointed to a Brexit. The UK voted to leave the EU, a dramatic turn that...

The World’s Central Bankers Are Gathering At The BIS’ Basel Tower Ahead Of The...

What happens on the 18th floor of the main tower at Centralbahnplatz 2 in Basel, stays on the 18th floor of the main tower at Centralbahnplatz 2. That's because this is where every other month the world's central bankers meet in complete secrecy - no minutes are ever kept -...

Fukushima rice set to make first EU foray with debut in Britain

Fukushima-harvested rice will hit the stores in Britain in July, which might make it the first member of the EU to import the grain, following a sustained effort by a group of Fukushima natives in London fighting rumors about the safety of the crop. It is also the third nation,...

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